Cowen Raises PepsiCo (NASDAQ:PEP) Price Target to $150.00

PepsiCo (NASDAQ:PEP) had its price objective increased by Cowen from $142.00 to $150.00 in a research note released on Wednesday morning, The Fly reports. They currently have an outperform rating on the stock.

Several other brokerages also recently weighed in on PEP. Zacks Investment Research downgraded Guaranty Federal Bancshares from a hold rating to a sell rating in a research report on Tuesday, April 23rd. Royal Bank of Canada set a GBX 5,200 ($67.95) price objective on London Stock Exchange Group and gave the stock a buy rating in a research report on Wednesday, April 24th. Bank of America upgraded Royal Bank of Scotland Group from an underperform rating to a neutral rating in a research report on Thursday, April 18th. BidaskClub upgraded Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. Finally, Argus restated a buy rating on shares of PepsiCo in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $128.53.

PEP stock opened at $133.28 on Wednesday. The business has a 50-day moving average of $131.86. The company has a quick ratio of 0.75, a current ratio of 0.86 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $187.84 billion, a P/E ratio of 24.03, a P/E/G ratio of 3.49 and a beta of 0.60. PepsiCo has a fifty-two week low of $104.53 and a fifty-two week high of $135.24.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. The firm had revenue of $16.45 billion for the quarter, compared to the consensus estimate of $16.44 billion. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 earnings per share. On average, sell-side analysts expect that PepsiCo will post 5.51 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.87%. PepsiCo’s payout ratio is 67.49%.

In related news, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the sale, the chief executive officer now directly owns 54,920 shares of the company’s stock, valued at $7,356,534. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Yawman sold 25,263 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $126.42, for a total value of $3,193,748.46. Following the sale, the executive vice president now directly owns 80,934 shares of the company’s stock, valued at $10,231,676.28. The disclosure for this sale can be found here. Insiders have sold 50,914 shares of company stock valued at $6,497,864 over the last ninety days. 0.28% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. West Oak Capital LLC grew its position in shares of PepsiCo by 1.3% in the second quarter. West Oak Capital LLC now owns 15,155 shares of the company’s stock valued at $1,987,000 after purchasing an additional 200 shares in the last quarter. Country Club Trust Company n.a. grew its position in shares of PepsiCo by 3.4% in the second quarter. Country Club Trust Company n.a. now owns 18,047 shares of the company’s stock valued at $2,366,000 after purchasing an additional 598 shares in the last quarter. Clark Capital Management Group Inc. grew its position in shares of PepsiCo by 17.1% in the second quarter. Clark Capital Management Group Inc. now owns 7,817 shares of the company’s stock valued at $1,025,000 after purchasing an additional 1,144 shares in the last quarter. CENTRAL TRUST Co grew its position in shares of PepsiCo by 0.9% in the second quarter. CENTRAL TRUST Co now owns 239,358 shares of the company’s stock valued at $32,158,000 after purchasing an additional 2,041 shares in the last quarter. Finally, Smith Salley & Associates grew its position in shares of PepsiCo by 6.1% in the second quarter. Smith Salley & Associates now owns 70,265 shares of the company’s stock valued at $9,214,000 after purchasing an additional 4,059 shares in the last quarter. 70.83% of the stock is owned by institutional investors and hedge funds.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Analyst Recommendations for PepsiCo (NASDAQ:PEP)

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